The Week in Generative AI: June 21, 2024 edition

Welcome to The Week in Generative AI, a weekly roundup for marketers from Quad Insights that sums up the latest news surrounding this rapidly evolving technology.

Google DeepMind this week shared progress on video-to-audio (V2A) AI technology that can generate soundtracks for videos, TechCrunch’s Kyle Wiggers reports. While plenty of audio-generating tools already exist, “DeepMind claims that its V2A tech is unique in that it can understand the raw pixels from a video and sync generated sounds with the video automatically, optionally sans description,” Wiggers notes.

Previously: “Google DeepMind unveils new model capable of making video games from scratch,” as we noted in the March 8 edition of this column.

Snapchat owner Snap just launched new versions of generative AI tools that “will allow users to see more realistic special effects when using phone cameras to film themselves,” Reuters’ Sheila Dang reports. The updated suite of AI tools allows augmented reality (AR) developers to create AI-powered user lenses, Dang notes. Snap also previewed a prototype AI-powered tool that “makes it possible to type in an idea for a transformation and generate vivid AR experiences in real time,” per a company announcement.

Previously: The U.S. augmented reality advertising market is projected to reach $1.2 billion in revenue in 2024, as we noted in the Feb. 21 edition of The Weekly 10.

Continuing to capitalize on the AI boom, chipmaker Nvidia saw its shares increase 3.5% on Tuesday, bringing its market valuation to $3.34 trillion and surpassing Apple and Microsoft to become the world’s most valuable company, the Financial Times’ Michael Acton and Nicholas Megaw report. “In less than two years, [Nvidia] has been transformed from a $300 billion company grappling with a chip glut exacerbated by a cryptocurrency bust into one of the most powerful tech companies in the world, with other Silicon Valley giants lining up to secure its latest products,” Acton and Megaw write.

Previously: “Nvidia launches new chips and software for AI models,” as we noted in the March 22 edition of this column.

Best Buy has entered an exclusive partnership with Microsoft, allowing the consumer electronics retailer to offer more than 40 of the tech giant’s newly launched AI-powered Copilot+ PCs, Chain Store Age’s Dan Berthiaume reports. Best Buy’s offering of Copilot+ PCs — which hit stores on Tuesday — is the largest of any retailer and includes brands such as Microsoft, Dell and HP, Berthiaume notes.

Previously: “Microsoft Teams enhances Copilot AI features,” as we noted in the March 29 edition of this column.

Ilya Sutskever, a co-founder of OpenAI and its former chief scientist, this week announced Safe Superintelligence Inc. (SSI), a startup focused on creating “a safe and powerful AI system,” The Verge’s Emma Roth reports. SSI’s business model “means safety, security and progress are all insulated from short-term commercial pressures,” per a company announcement. The news comes as safety concerns surrounding leading AI players continue to make headlines. Just two weeks ago, employees of AI companies including OpenAI and Google DeepMind issued an open letter warning of AI risks, as we previously noted in this column.

See also: “OpenAI announces new safety committee,” as we noted in the May 31 edition of this column.

AI tools and advancements:

• “Hanesbrands Advances Digital Transformation With New Automation and AI Capabilities” (Consumer Goods Technology)
• “Anthropic claims its latest model is best-in-class” (TechCrunch)
• “Can AI police itself? Experts say chatbots can detect each other’s gaffes” (The Washington Post)

AI acquisitions:

• “SoundHound AI Acquires Ordering Platform Allset to Fast-Track Its Vision of a Voice Commerce Ecosystem” (Yahoo Finance)

AI trends:

• “Accenture forecasts upbeat 2024 revenue growth on AI boost” (Reuters)

AI controversy:

• “AI is replacing human tasks faster than you think” (CNN Business)
• “Instagram users are getting worried about AI scraping their photos” (Fast Company)

AI strategy:

• ICYMI: “McDonald’s is ending its drive-thru AI test” (Restaurant Business)